In this post I will explain how to get started with a BitCoin.

( $10 gift included )

How to get started with a BitCoin?

What is BitCoin?

It is the first decentralized digital currency. System works without a central bank or any administrator. BitCoin is very popular, especially in online business because you dont need to worry do you have supported wallet and you dont need to have a bank account.

All you need is to have BitCoin address and it is not matter which BitCoin wallet you are using.

Before you start with BitCoin you need to setup BitCoin wallet to be able to generate BitCoin address where you will deposit or receive your BitCoins.

More about BitCoin you can read here.

 

How to create a BitCoin wallet?

The most simple way is to create some online wallet. It is very important to use email with high security settings – Two-factor authentication (2FA). You can download Google Authenticator app from App store or Google Play store depends if you have Ios or android mobile device. It is very simple to use, you just need to enter 6 digit code from app (every 30 seconds app generate new code). More about email security settings in some future posts.

I am using Blockchain online wallet more than 1 year without any issues. But be aware there is lots of scammers online and never give your login informations via email. Sometimes emails looks like official but they are not. Also when you enter blockchain in google sometimes you will see clone sites from scammers. Be sure that you see Blockchain Luxembourg on the left side from web address in address bar. You can register wallet here.

 

Create BitCoin online wallet
Blockchain online wallet signup screen

First step is to enter email address and create password. Then you need to check your email inbox and click on verification link. In email you will also see your wallet ID – login link – series of letters, numbers and dashes after last “/” symbol. In compare with for example PayPal here your email is not your username / wallet ID. Keep it on safe place.

 

BitCoin online wallet login
Blockchain online wallet login screen

Now you can login and setup your settings in wallet.

It is recommended to enable 2-step verification (2FA) for better protection against scammers and hackers.

 

Blockchain online wallet settings
Blockchain wallet settings

And you are ready to create your first BitCoin address to be able to receive some BitCoins. (or some other crypto such as ETH, BCH..)

Be aware: a public address (key) you need to share with sender to be able to receive crypto but never share your private key. In different wallets are different ways to access private keys. You need a private key if you want to recovery crypto amount in some other wallet. Every public address have an unique private key. Who know private key have control over crypto amount stored on that public address.

On next screenshot you can see how to create public address. It is recommended to generate a new one for every single transaction.

Create bitcoin address
How to create BitCoin address

You can also use BlockChain mobile app.

It is a very simple to use it.

 

Blockchain wallet mobile app
Blockchain wallet in App Store

 

Next step is to buy some BitCoins.

 

Where to buy BitCoins?

 

BitCoin ATM
BitCoin ATM

You can search for BitCoin (Crypto) ATM in your area and that is the simplest way. But there are many ways to buy BitCoin online. (from home)

I will recommend you 3 sites:

Coinbase – very popular crypto exchange site which gives you and your referrer $10 bonus when you buy or sell crypto for at least $100.

Except BitCoin (BTC) also available some other cryptocurrencies.

Update, January, 2019.

Now PayPal is also available as payment method but only for withdrawals. That means you can sell crypto and send money to your PayPal account. You can buy with VISA or Mastercard cards – recommended for small amounts. Bank account that can make and accept SEPA payments – recommended for large amounts.

You can join here.

Coinbase buy bitcoin and get $10 free
Coinbase

Important: you need to verify account with personal documents.

 

Coinmama – very interesting solution because you can buy small amounts on simple and fast way without any verification and anonymously.

(up to $160 but please check for any possible changes on site)

You can buy: BitCoin, Ethereum, Litecoin and Bitcoin Cash.

You can join here.

Coinmama buy bitcoin anonymously
Coinmama: buy crypto without any verification

 

LocalBitCoins – very interesting site where you can buy or sell BitCoins only but you can select people from your area and you can pay with many payment methods. (such as PayPal, AdvCash, PaySafeCard etc)

It is a very safe site because LocalBitCoins keep account balance until seller and buyer confirm transaction, there is also feedback like on Ebay.

You can join here.

LocalBitCoins buy bitcoin in your area
LocalBitCoins: buy BitCoin with many payment methods

 

For large amounts I recommend to use hardware wallet, more details in future posts.

I use online and hardware wallets: online for smaller amounts and hardware for large amounts (storage). You can check for hardware wallet on next banner.

Ledger Nano S - The secure hardware wallet

I hope that this information is useful for you.

If you have any questions or doubts feel free to ask via comments.

38 Comments

  1. Hey, I really enjoyed reading your post about getting started with bitcoin. I must say that bitcoin is something totally new for, but it sounds super interesting. A question that I have now is where can I pay with Bitcoin? can I have a bitcoin wallet on my phone too? where can I get it? and who accepts it? Sorry if these questions may seem stupid, but I really don’t know 🙂

    Aaron
    1. Hello Aaron and thank you for your comment and very good questions! There is no stupid questions and I have intention to write about these questions in next posts but I will answer you now shortly. There is a huge list of companies that accept Bitcoin such as: Subway, Playboy, Microsoft, CheapAir.com ( travel booking site ), Wikipedia, Shopify etc… Yes you can have wallet on mobile phone, I have it a few – I added blockchain wallet screenshot in post and you can find it on App store or Google Play Store. There is also wallets such as Jaxx and BitPay. ( https://jaxx.io/, https://bitpay.com/ ). My recommend is Jaxx because wallet support many cryptocurrencies and exchange ( for example you can convert BitCoin into Zcash ) and it is a offline wallet, private keys stays on your device. More details in future posts. Recommend is to have BitCoins on different places. 

      admin
  2. To be honest, I know very little about Bitcoin. A few months ago I tried to set up a “wallet” and failed miserably. It seemed that to set up a wallet was not difficult, but somehow I managed to fail doing so.

    You mentioned in your post that bitcoin has no central bank or any administrator.

    That concerns me because this could open the way for a lot of abuse and/or fraud. Not sure I like the idea of a absence of an administrator.

    Howard
    1. Thank you for your comment, Howard. I am sorry about your fail to manage crypto wallet. You can try to repeat, my first recommend is https://blockchain.info/. Also you can try with Jaxx offline wallet – it is very simple too, especially for use on mobile phone. About concerns for abuse and/or fraud: dont worry blockchain system is most secured and there is no any problems with transactions. I am using more than 1 year and never had any problems. Many companies have intention to use blockchain technology such as airports – because there is no possibility for any mistakes, it is process automatization system.

      admin
  3. Hi Borisxy,
    I’m not too familiar with bitcoin. Reading your website is probably the most I have read on it. So thanks for the information.
    I have heard that once you invest in bitcoin it is very hard to get out of it or get your money out of it. Is this true. Besides the fraud you mentioned to watch for- how liquid is your investment in bitcoin. Can I easily cash out if I were to try it and decide it isn’t for me?

    Ty Hook
    1. Hello Ty and thank you for comment. Investment in BitCoin or any other cryptocurrency is some risk because price can go down but also can go up and you can earn a lot. I think that future is in cryptocurrencies. Never put all eggs in one basket – that means recommend is to use several wallets and crypto addresses. For large amount recommend to use hardware wallet. It is not true that is hard to get your money: there is many places where you can cashout – crypto cash machines, but also many places now accept bitcoin payments. You can also sell your BitCoins via LocalBitCoins. More details will be in future posts.

      admin
  4. Hi there,

    I actually know one of the founders of the one of the most popular crypto exchanges. And even he, back in the day going back 6 years now has 1,000 coins stolen from him. Then they were worthless (ok about $100 or so!).

    His advice security wise..

    1) use an email ONLY for your crypto – nothing else. Must be encrypted.

    2) don’t use anything to do with google or windows for crypto Even OS!

    3) Buy a new smartphone to access the net only for crypto (best iphone – encrypted!) and change your sim card frequently!

    4) yes use a ledger – here is a warning regarding ledgers * check the security seal! buy from an official store only! In Malaysia some ledgers were sold containing a virus that was stealing coins, grabbing passwords.

    I hope this advice, that does come from an obvious expert and saves your readers from future problems and isues regarding cryptocurrencies.

    Derek Marshall
    1. Hello Derek and thank you for very useful comment.

      I agree with you.

      For every account included email accounts I always recommend 2FA for higher security – as presented on post about the best online crypto wallet – here

      I am using an Iphone – never had any problems…

      About ledgers, yes only from an official store is strongly recommended – on my blog you can find banners about ledger from an official store. And the last thing but very important: be very careful with crypto trade/exchange sites, always keep some smaller amounts there. Only hardware wallet use for store.

      admin
  5. I am personally skeptical of Bitcoin. It might be because I don’t really understand it. I have tried some other sites where you can exchange their currency into gift cards, but it never lasted. It takes forever to build those coins. So I am just curious about what the difference is between Bitcoin and those other sites or apps?

    Mandy
    1. I understand that exist so much scam systems and sites. The best way is to buy BitCoin and wait when price will be higher. BitCoin is the future. There are many legit sites such as Infinity Traffic Boost where is good affiliate program and you can get traffic and sales – prices are in BitCoin. There is also few more legit sites and soon I will publish posts about that.

      Boris
  6. Thank you for the article about Bitcoins. This is a form of currency I have heard of before, but never really looked into too much until recently. This is was a very detailed guide. Really appreciate the warning for scammers, they are everywhere. The Coinmama option for buying bitcoins is one that caught my attention because you can do so anonymously. Protecting your identity is very important. 

    Kenny Tang
    1. Thank you for your nice comment. Yes Coinmama is very interesting site because it is simple and fast way to buy BTC and ETH. And of course we need to be carefully because safety is very important.

      Boris
  7. I tried to get involved with bitcoin last year but had a nasty experience and lost. Some money. Luckily I was only testing the  waters and only lost £90. It was with a firm called Questra , it now turns out they folded and were shut down for being more of a scam.

    I wished I found your article last year that’s for sure! Your article shows how it should be done and I think you will save a lot of beginners from the experience I had so I praise you for that. 

    Thank you for your post and for the information you provide.

    Darren
    1. Thank you for your comment. I am really sorry for your bad experience. There is many ponzi scheme and scam systems. The best way is to keep bitcoin or invest some smaller amount in long term systems. I will publish in future some recommends. For now I have invested in few systems and I already get some profits. I like to pay advertising in BTC and get some results + returns (cash back). Infinity traffic boost is one good example.

      Boris
  8. Hi! Great information. A few questions… is bitcoin superior to money? Is there any advantage of using it over cash or cards? Why has it gotten so popular? If it is not regulated by the central banks how is it legal? If I wanted to invest in it what would be the best way? Is it superior to other crypto currencies? Thanks a bunch and I look forward to hearing your answers.

    Melo Ann
    1. Thank you for your comment and interest. Bitcoin is the most stable and first cryptocurrency. BTC is popular because you can have account without ID, anonymously, without any limits. Nobody have control over your account. For start would be good to start with some smaller amount and some online wallet. Later recommend to buy hardware wallet.

      Boris
  9. I feel like I dropped the ball on this.  I was first introduced to bitcoin over a year ago and thought it just wasnt worth looking at.  Well, of course I was wrong.  But now it feels like it is almost too late to get involved.

    The article you wrote is great but bitcoin still confuses me.  I was wondering if you could give me an honest answer about something.  Is bit coin still a good investment or is it going to keep declining in value?

    Dale
  10. Hello Boris. Thank you for sharing this information on what Bitcoin is. Bitcoin is the number one Cryptocurrency to evolve. I also have a Bitcoin wallet with Block Chain and never had any issues with it. I enjoyed reading through this post. Easy for a Bitcoin novice to follow through.

    BEazzy Shifts
  11. Thanks for the info I have been thinking about bitcoin. I am probably like many people and never thought about making my email more secure. The info you have shared her is going to help me make a safer and more secure decision when I choose where and how much bitcoin to purchase.

    Lance
  12. I have been hearing a lot about Bitcoin lately. I have never taken the time to really understand how it works though. This is an interesting read I learnt quite a few things and in I can’t wait to read more about this so that I can fully understand how it works. Hope that you will write another article soon. 

    Great post.

    Brenda
  13. I have never been able to wrap my head around bitcoin / cryptocurrencies.

    I understand concepts like Credit Cards, or PayPal and the like, because they are tied into an actual monetary system. I can understand buying gold, and silver, and the such, because you hold an actual substance in your hands that has physical value. But “imaginary coins” in an “imaginary wallet”? Maybe my mind is too simple to grasp this idea.

    A few years ago I was researching bitcoin and it seemed really difficult to get your hands on a coin, it had a certain intrinsic value. Now, bitcoins can be bough and sold with ease by those who traffic in them.

    What is your view long term with cryptocurrency? Where does it go from here? What real value will a bitcoin have in say 5 or 10 years?

    Mitchguy
    1. It is hard to say what will be in future but I think that cryptocurrencies will have good position in future. I remember in past about PayPal – people was sceptic and where is now PayPal? Today everybody use PayPal..

      Boris
  14. This is a most interesting article. I have seen the word BitCoin before but I never knew what it was, and never thought I would be interested in, or able to understand it. If it is a digital currency, and if I have to buy BitCoins, can someone also earn BitCoins? By that I mean are there online businesses that pay people with BitCoins? If I wanted to buy something with a BitCoin, I’m guessing it would have to be online, right? So if I create a BitCoin wallet, I just login to my wallet? Sorry if these are dumb questions, but although you’ve explained it well, this is totally new to me!

    Sue
    1. There is no dumb questions, only dumb answers. I hope that my answer will be good. Yes there are programs where you can earn BitCoins but be aware because there are lots of scams. You can have online wallet such as blockchain wallet but also mobile wallets (Jaxx, BitPay) – they dont require login – you just open the app on your mobile phone.

      Boris
  15. Bitcoin is one of those things that I really want to understand, but then I find I can’t seem to wrap my head around it! Just setting up the wallet looks complicated! Eek! Although, your instructions make it easier. I bet if I just follow your steps, it’ll be easier than it looks. (Right, right??) 

    It seems like Bitcoin and other cryptocurrencies are gaining in popularity, but why? What’s good about them versus “real” money? Do you think everyone will be using this type of currency in the future?

    Christina
    1. I hope that my instructions are easy to understand. Good about BitCoin is that nobody have control over account and you dont have to give ID. Also you can send BTC without any limits and questions. I think that more and more people will use it but not everybody. Just like PayPal.

      Boris
  16. Bitcoin wallets have always intimidated me. The whole concept has always been confusing and I never understood it prior to reading this article. Although I don’t think I’ll be using it anytime soon, it’s good to know the option is out there and that I now understand how it works and what bitcoins are used for.

    Beauty In A Maze
  17. This was a great and simple introduction to the world of Bitcoin. You made it easy to follow and understandable what BitCoin is and how to work with them. I believe it will be the currency of the future but there seems to be so much talk about BitCoin and all the “experts” have opinions on when to invest or when not. What is your advice? Would you say it is safe to invest in BitCoins now?

    Simon Adams
    1. Thank you for your comment Simon! I thing that Bitcoin is the future but also some other interesting crypto coins. These days was 10 years Bitcoin anniversary and I think that BitCoin will stay here many years. Also today there are more and more places where is Bitcoin available as payment method. Price going up and down and it is hard to say what will be in future but I am investing in BitCoin and some affiliate programs with BitCoin as payment option. But it is the most important to keep it on safe place. Recommend to read this post about how to use hardware wallet and where to buy it.

      Boris
  18. Thanks for these information regarding getting started with Bitcoin. I’m already into Bitcoin and been using the cryptocurrency for more than a year now. I searched online and landed in this blog post of yours looking for an answer to what my friend from another country is asking me, and since I am not that expert in this field although I have some background of it. My friend is asking me if it is possible for someone residing in the United States to open a Bitcoin wallet account in countries in Southeast Asia like the Philippines? And vice versa. Can someone from the Philippines open a Bitcoin wallet in a wallet company that’s based in the USA?

    Gomer Magtibay
    1. Yes it is possible because there are no any restrictions. However there are different wallets but the most secure way is to buy hardware wallet. When I just started I was using blockchain info wallet (which I have described in this post) but later I have started to use Jaxx wallet described on this post about the best mobile crypto wallet. Good wallet is also BitPay but for larger amounts I recommend to use hardware wallet. 

      Boris
  19. The blockchain technology is one of the best technology of the 21st century. The decentralisation of the system and anonymous nature makes it more sophisticated means to carry out transaction without government interference and burden of taxation which are limited on trade under bitcoin transaction. The security of the digital currency is also mystery yet to unravel.

    Chris Anyomi
  20. Hi this was very interesting and informative I don’t know that much about Bitcoin and you have helped to understand the importance of getting asecure  wallet  .I have heard of people loosing their Bitcoin due to scammers and I know it is not Avery good experience . So this is why this blog is very important for me and those who don’t have the idea  the Importance of having secure wallets two where to buy Bitcoin that helps very much.

    charles39

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